Brad Garlinghouse Talks about the Decentralized Nature of XRP (XRP)

XRP (XRP) has been at the center stage in the crypto space over the past weeks. The digital currency brought a degree of hope to the crypto space and altcoins most importantly, after it increased sharply and briefly overtook Ethereum (ETH). The digital currency has been able to hold a greater percentage of the gains it amassed over the past weeks, and it currently looks set to start another price rally.

XRP is currently worth 54 cents after an increase of about five percent over the past twenty-four hours. At the moment, the Market cap of the digital currency is $21.55 billion and its trading volume over the past twenty-four hours is $735.46 million.

XRP Price Analysis

XRP recently surged over the $0.5050 support level. The digital currency saw more bullish pressure and surged towards the 62 cents level before it started consolidating lower. The digital currency formed a high at $0.6199 before it started consolidating lower. The value of the coin declined and traded below the 55 cents level and almost tested the 50 cents mark.

However, it is currently correcting higher but it is capped on the upside at the 55 cents level. If buyers are able to push the value of the over the 55 cents level, the coin might amass more gains towards the 57 cents level and retest the 60 cents mark.

Brad Garlinghouse Says XRP (XRP) Is Completely Decentralized

A couple of months back, the U.S SEC said that Ethereum (ETH) is not a security under federal law, stating that although the digital currency started via token sale, it has become decentralized over the years. Since William Hinman – the Director of the SEC’s Division of Corporation Finance – gave his opinion about the decentralized nature of Ethereum (ETH) and Bitcoin (BTC), XRP supporters have been doing all they can to prove that the digital currency is decentralized.

During the just concluded Swell conference by Ripple, the CEO of Ripple – Brad Garlinghouse responded to criticisms that the digital currency is not decentralized. Garlinghouse said that “XRP is very clearly decentralized.” He also said that even as the CEO of the firm, he doesn’t have control over the digital currency.